Bebo.com is a popular social networking service similar to Facebook that launched back in 2005. It has since grow increasingly popular quickly climbing the charts to one of the most popular websites on the internet. While Facebook tends to shadow the social networking space these days, it’s important to point out the success other entrepreneurs like this one have had within social networking. For this and more we take a look at entrepreneur Michael Birch in the spotlight this week. We’ll look at just how he did it and highlight what lessons any upcoming entrepreneur can learn.
Summary:
Name: Michael Birch
Age: 40
Location: England, U.K.
Claim to fame: Bebo ( Popular social networking website similar to Facebook or MySpace.)
Initial cost: <$1000
How He Did It:
Michael Birch grew up in London where he attended college and obtained a degree in Physics in 1991. It wasn’t until 2005 that Birch would develop and launch Bebo.com with the help of his wife. Bebo quickly grew over the next few years with its primary user base being focused in Europe. By the time 2007 came around, Bebo had over 45 million registered users across the globe. Michael Birch sold Bebo for $850 million in 2008 to AOL later in 2007. AOL recently announced in April 2010 that they would be selling the website or shutting it down due to falling member numbers. Michael has since become a adviser and investor to many new internet start ups.
Lessons Learned:
- The sooner you start taking action and attempting to launch a business, the better off you’ll be down the road.
- Success doesn’t happen overnight.
- Start with a simple idea, develop it, launch it, and then grow it based on user interaction.
- Never stop trying even if it seems like failure is your only friend.
- Success requires time in order to happen
Did you miss last weeks spotlight? Check it out here: The Entrepreneur Spotlight: David Karp.
Be on the lookout for our next entrepreneur spotlight article in this ongoing series. In the meantime, be sure to leave a comment and let me know what you think about the success of this week’s entrepreneur and his entrepreneurship characteristics. Also, please let me know if you have an entrepreneur you would like to see featured here in the weeks to come.
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